We didn't use the Fed to bail out the markets? Bail outs are now Capitalism again? We aren't using the Fed to prop up the markets now? How is this Capitalism?
There is a word associated with "federal" that you clearly fail to grasp, that word is "reserve." First off, your statement of "bailout" is incorrect and made from a position of abject ignorance due to your utter lack of understanding of the monetary system.
We have to break this down to the basics, because you CLEARLY have no idea what the federal reserve is or how monetary policy works. I am going to assume you are some nutjob who has heard "fed bad" and believes it without having any clue what is behind it. What is behind it is fiat currency. Fiat currency means money not backed by tangible assets. Bad, right? Well, it's little more complicated than that. Took make it simple let's say we have a simple economy where a woodcutter can cut down 10 trees a year, and there are 10 1 ounce chunks of gold. So we peg the gold to the wood, each tree is worth one gold. All is good, trade is fair. But then another wood cutter moves in, and now there are 20 trees pegged to the 10 gold. Do we just have the wealth of the first woodcutter magically be cut in half? Chances are he wouldn't like that and will abandon the monetary system as it fails to provide an equitable means of trade. So the mayor comes up with something ingenious, he locks the gold up and creates credits that he calls "dollars." The trees are one dollar each. Now when another wood cutter shows up, he can expand the currency by fiat, preserving the trade balance.
What the federal reserve does is maintain the ratio of goods and services to currency. As we have shifted to a credit economy, most transactions occur using nothing more than credits and debits in computer systems. The Repo market is for those situations where transactions exceed the available currency. Generally the float of currency in the Repo market is between 4 and 24 hours. So when the ignorant speak of the "billions pumped into the economy by the fed," they simply don't grasp that a billion dollar repo on Wednesday is the SAME billion that was floated on Tuesday.
BTW, I oppose the fed, but not for the reasons you ignorantly do.